VAT Calculator Austria

Austria has a standard VAT rate of 20%. Value added tax was initially introduced at the rate of 16% on January 1, 1973. Taxes are commonly imposed on corporations, trade income, real estate, inheritance, dividends, gifts, and several miscellaneous services. They offer reduced VAT rates for the foodstuffs, books, pharmaceuticals, passenger transport, newspapers, admission to cultural and amusement events, hotels.

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Austria has a standard VAT rate of 20%. Value added tax was initially introduced at the rate of 16% on January 1, 1973. Taxes are commonly imposed on corporations, trade income, real estate, inheritance, dividends, gifts, and several miscellaneous services. They offer reduced VAT rates for the foodstuffs, books, pharmaceuticals, passenger transport, newspapers, admission to cultural and amusement events, hotels.

Formula:

Add Tax Tax Amount = ( Original Cost * VAT% ) / 100 Net Price = Original Cost + Tax Amount
Remove Tax Tax Amount = Original Cost - ( Original Cost * ( 100 / ( 100 + VAT% ) ) ) Net Price = Original Cost - Tax Amount

20 % is the standard vat rate and the reduced rates of 10, 12 and 19 % are also collected for different services. Married people are imposed to pay different level of taxes.

Example

Find the VAT price and net price in Austria (GST % is 20) for an amount of 25000 €

Add Tax

Solution :
GST % = 20
Amount = 25000

Step 1 :
GST Price = (25000 * 20 ) / 100
     = 5000 €

Step 2 :
Net Price = 25000 + 5000
     = 30000 €

Hence the VAT Price is 5000 € and Net Price is 30000 €

Remove Tax

Solution :
GST % = 20
Amount = 25000

Step 1 :
GST Price = 25000 - (25000 * ( 100 / (100 + 20)))
                 = 25000 - (25000 * 0.83)
                 = 25000 - 20833.33
                 = 25000 - 20833.33
GST Price = 4166.67 €

Step 2 :
Net Price = 25000 - 4166.67
                = 20833.33 €

Hence the VAT Price is 4166.67 € and Net Price is 20833.33 €

20 % is the standard vat rate and the reduced rates of 10, 12 and 19 % are also collected for different services. Married people are imposed to pay different level of taxes.


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